HomeMy WebLinkAboutApproving a Contract Bureau of Water Badger Meter, Rockwell $91,229.00ORDINANCE No. 5716 -74
Passed by the Common Council of the City of South Bend,
AUGUST 12, 19 74
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IRENE K. GAMMON
Presented by me to the Mayor of the City of South Bend,
AUGUST 13, 19-1-L-
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Approved and signed by me (o(Loa "x&2t / 7
Clerk
of Common Council
IRENE K. GAMMON
Clerk
ORDINANCE NO. S 7 / & _ ? 5/
AN ORDINANCE APPROVING THE FORM AND TERMS OF LEASE AND
TRUST INDENTURE AND INDUSTRIAL DEVELOPMENT REVENUE BONDS,
AND AUTHORIZING THE EXECUTION THEREOF PERTAINING TO
K AND F MANUFACTURING CO., INC.
WHEREAS, the Common Council of the City of South Bend
Indiana, heretofore has created the South Bend Development
Commission, hereinafter referred to as "Commission ", pursuant
to the provisions of the Public Lsw No. 182 of the Acts of the
General Assembly of Indiana for 1973, as such may be amended
from time to time, including but not limited to IC 18- 6 -4.5 -2
through IC 18- 6- 4.5 -28, hereinafter referred to as the "Act ";
and
WHEREAS, K and F Manufacturing Co., Inc. an Indiana corporation
has filed an application with the Commission to finance the con7
struction on real estate deeded to the city on June 7, 1973, of
an industrial and manufacturing building (facilities) and the
purchase of machinery and equipment to be used in connection there-
with, which will constitute economic development facilities
resulting in a substantial number of jobs as well as other
benefits; and
WHEREAS, in connection therewith the Commission has prepared
and placed on file a report containing the subject matter as
specified in Section 16 of IC -1973, 18 -6 -4.5 and forwarded copies
thereof to the Chairman of the Area Plan Commission and to the
Superindendent of the School Corporation in the area of which
the facilities will be located, and has timely received favorable
reports from each of them; and
WHEREAS, the Commission held a public hearing on the
proposed financing of such facilities on July 19 , 1974
after giving the required notice as provided for in Section 17 of
IC -1973, 18- 6 -4.5; and
WHEREAS, on the 12th day of August , 1974, this
Common Council of the City of South Bend, Indiana, adopted
a resolution pursuant to which such financing of such facilities
for K and F. Manufacturing Co., Inc. an Indiana corporation,
under the Act was approved after a finding that such proposed
financing for such entity would be of benefit to the health or wel-
fare of the City of South Bend, Indiana.
NOW, THEREFOR, BE IT RESOLVED, by the Common Council of
the City of South Bend, Indiana, that;
Section 1. The form and terms of the Lease and Trust
Indenture and Industrial Development Bonds pertaining to K and F
Manufacturing Co., Inc. an Indiana corporation, facilities and
the issuance of the Industrial Development Revenue Bonds pursuant
thereto are hereby approved and adopted.
Section 2. Said forms of Lease and Trust Indenture
together with Industrial Development Revunue Bonds which are on
file with the Commission are hereby incorporated br reference
into this Ordinance, and said froms shall be inserted into the minutes
of the Common Council of the City of South Bend, Indiana, and shall
be kept on file by the City Clerk of South Bend, Indiana.
Section 3. The Lease and Trust Indenture and Industrial
Development Bonds shall be executed on behalf of the City of South
Bend, Indiana by the Mayor and City Clerk and sealed with the
corporate seal of such City.
Section 4. Said Industrial Development Revenue Bonds,
payable solely and only from the revenue derived from such K and F
Manufacturing Co., Inc.,,an Indiana corporation, facilities, may
be issued in amounts not to exceed $142,000.00 for a period of
Fifteen (15) years from the W�F day of 6 , 1974, with
the terms of said Lease and Trust Indenture and that such bonds
shall be executed on behalf of the City of South Bend, Indiana, by
the Mayor and City Clerk of South Bend, Indiana, and shall be
sealed with the corporate seal of said City.
Section 5. This Ordinance shall be in full force and
-2-
effect from and after its passage by the Common Council and
approved by the Mayor. 7
Presented by:
ou c' m
Passed and adopted by the Co on Council of the City
of South Bend, Indiana, on the /2 Z= day of
^ _ 1974.
X X VI
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Presiden# of Cbuncil
City Clerk
Presented by me to the Mayor of the City of South Bend,
Indiana, on the /3 tk day of 1974, at the hour
of .M.
City Clerk
This Ordinance approved and signed by me on the
day of 1974, at the hour of 3—o"dz U .M.
Attest:
City Clerk
Ist READING
9-/ a
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PUBLIC HEARING
F- / ,;�
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4
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2nd READING
NOT APPROVED
REFERRED
PASSED
FILED IN CLERI{'S OFFICE
JUL 3O1974
Irene Gammon
CITY CLERK, SOUTH BEND IND,